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  1. BHI: US rig count up 5 to 511

    The overall US drilling rig count gained 5 units to 511 rigs working during the week ended Sept. 23, according to Baker Hughes Inc . data. Three gas-directed and 2 oil-directed units began operations. Up in 14 of the last 17 weeks, the overall count has now added 107 units since the week ended May 27. Compared with the week ended Dec. 5, 2014, after which began a steep dive in US drilling activity, the count is still down 1,409 units. The recent drilling rebound has been characterized by steady increases devoid of major rig and equipment constraints. With the overall count expected to continue to rise over the next 2 years, however, analysts at financial services firm Raymond James & Associates Inc. foresee “meaningful bottlenecks” emerging due to low spending on oil field infrastructure during the downturn. The primary culprit is expected to the beleaguered pressure pumping industry, whose readily workable US frac fleet is forecast to be down 35-50% by 2017 compared with 2014 levels, the analysts said in an industry brief this week. Some 3-4 million hp has been removed permanently during the downturn while another 3-4 million hp will require major investment to be refurbished into working condition. “With modest attrition on the nearly 2,000 rigs running in 2014, the market should be able to supply additional drilling rigs—of varying qualities—beyond 1,000 active rigs,” they said. “The problem will be, if wells cannot be completed, why drill them?” RJA believes the industry’s initial bottleneck point will be reached next year at 800 rigs working. The average overall US rig count for 2017 is also expected at 800 units, rising to 1,100 in 2018, even though the firm projects industry cash flows will likely justify higher counts. Oil-rig streak holds steady US oil-directed rigs have now risen in 15 of the last 17 weeks, adding 102 units over that time to total 418 rigs working, down 1,191 units since their peak on Oct. 10, 2014. Gas-directed rigs now total 92, and have stayed within a range of 81-97 units since the beginning of March. The overall increase comprised onshore units, which are up 6 to 488. Rigs engaged in horizontal drilling gained 8 units to 402, a rise of 88 units since May 27 but down 970 since their peak on Nov. 21, 2014. Directional drilling rigs edged up a unit to 49. Several of the major oil-and gas-producing states made either a modest increase or modest decrease. Texas and Oklahoma led the way in increases, each gaining 2 units to 246 and 67, respectively. Texas is now up 65 units since May 13 but down 712 since a peak on Aug. 29, 2008. The Cana Woodford and Mississippian each added a unit to hit respective totals of 33 and 3. The Eagle Ford also was down a unit, settling at 37. Down 1 unit to 201, the Permian declined for just the second time in 19 weeks. In news of yet another firm banking on the West Texas and southeastern New Mexico basin, Calgary-based Encana Corp. this week completed a public offering to raise $1 billion, a portion of which will go toward boosting its Permian rig count and doubling its number of producing wells in the play during 2017 vs. the 2016 total. North Dakota, Pennsylvania, Alaska, and California each rose a unit to 28, 22, 6, and 6, respectively. As with its home state, the Williston was up 1 to 28, while the Marcellus also increased a unit to reach 30. Louisiana, New Mexico, and West Virginia each lost a unit to respective totals of 40, 27, and 9. One rig drilling in inland waters was idled, bringing that tally to 3. The tally of active offshore rigs was static at 20. Canada topped the US with a 6-rig rise to 138, up 102 units since May 6. Gas-directed units increased by 5 to 61 while oil-directed units gained 2 to 77, up 69 units since Apr. 8. The country’s only unclassified rigs halted operations this week. Contact Matt Zborowski at matthewz@ogjonline.com .

    Online Articles

    Online Articles

    Fri, 23 Sep 2016

  2. Report: Rig market remains depressed

    Evercore ISI’s Oilfield Services, Equipment & Drilling group has released the most recent edition of its monthly Global Offshore Rig Market Snapshot.

    Online Articles

    Online Articles

    Mon, 19 Sep 2016

  3. Saipem: $430 million new onshore oil and gas drilling contracts

    Saipem has been awarded new contracts and extensions to existing contracts in the onshore oil and gas drilling segment in the Middle East and South America. The awards have an overall value of $430 million.

    Online Articles

    Online Articles

    Thu, 22 Sep 2016

  4. US offshore rig count rises to 22

    The overall US offshore drilling rig count increased to 22 over the past week, according to the Baker Hughes Weekly Rig Count of July 15, 2016. 

    Online Articles

    Online Articles

    Fri, 15 Jul 2016

  1. US offshore rig count remains unchanged

    Online Articles

    Online Articles

    Mon, 11 Jul 2016

  2. Want to explore an offshore oil rig ? Take a virtual tour!

    OcuTech360, a leading provider of 360 visual technology products and services, has made it easy for you to visit an offshore oil rig without demonstrating your swimming prowess and ability to escape a completely submerged helicopter.

    Online Articles

    Online Articles

    Wed, 25 May 2016

  3. Jury seated in trial for ex-BP offshore oil rig supervisor

    A jury has been chosen for the trial of a former BP offshore oil rig supervisor who faces a pollution charge in the 2010 Deepwater Horizon disaster in the Gulf of Mexico.

    Online Articles

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    Wed, 17 Feb 2016

  4. U.S. Gulf of Mexico share of global active offshore rigs declines since 2000

    In response to the decline in crude oil prices since mid-2014, the number of active offshore rigs has declined worldwide, dropping close to 20%—304 offshore rigs were operating in August 2015, down from 377 in August 2014.

    Online Articles

    Online Articles

    Tue, 22 Sep 2015

  5. Russian offshore oil rig sees more delays

    The opening of the new Russian offshore oil rig being constructed in the Arctic is set to be delayed once again as the state oil company, Gazprom, continues to lobby for tax breaks it says are critical for the completion of the project.

    Online Articles

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    Thu, 15 Mar 2012

  6. Shell to Seattle: offshore oil rigs are coming

    Royal Dutch Shell says it has a valid lease for Seattle terminal space and a tight timeline to prepare its fleet for exploratory oil drilling in Arctic waters. 

    Online Articles

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    Wed, 13 May 2015

  7. Analyst sees more cold stacks, rig retirements in 2H 2016

    A total of 10 drilling rig contracts have been awarded so far this month, according to Evercore ISI’s Oilfield Services, Equipment & Drilling Group.

    Online Articles

    Online Articles

    Thu, 18 Aug 2016

  8. Keppel FELS sets record for delivered offshore rigs in a single year

    Keppel FELS successfully delivers 21st new build offshore rig in 2013, setting a new record for the most number of rig deliveries by a company in a year.

    Online Articles

    Online Articles

    Fri, 27 Dec 2013

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